China is introducing new avenues for international trade in its national currency, the renminbi and expanding investment opportunities for foreign investors. However, multiple factors continue to constrain the pace of financial market liberalization.
By Marcel Grzanna
China continues to push ahead with the internationalization of its national currency. The US tariff policy plays into the country's hands. Beijing now stands to gain a significant victory in the geopolitical rivalry with the Americans.
By Marcel Grzanna
By internationalizing its currency, China wants to become less dependent on Western payment systems – not least for geopolitical reasons. However, Xi Jinping's obsession with control is undermining market confidence.
By Experts Table.Briefings
The Western Russia sanctions have increased the desire for an alternative to the US dollar in many countries, because they also affect the settlement of foreign exchange transactions. This benefits the Chinese yuan (renminbi) on its way to becoming a global currency.
By Experts Table.Briefings
Following the sanctioning of Russia by exclusion from SWIFT, heated discussions emerged in China about accelerating the build-up of an alternative international payment system based on RMB. Actually, China has made significant progress in ramping up its Cross-border Interbank Payment System (CIPS) since 2015. However, the prospects of CIPS largely depend on the pace of China’s capital account opening and China’s investment attractiveness for foreign institutions in the long run.
By
In recent years, the Chinese government has made great strides in introducing the digital central bank currency. Europe should not waste any more time and digitize the euro quickly – and just like the Chinese, in a first step as an ECB interbank standard that commercial banks can then pass on to end customers.
By Redaktion Table
The government in Beijing wants to establish the renminbi as a global reserve currency. While the Chinese currency is becoming increasingly popular for trade and financial transactions, it has so far been unable to pose much of a threat to the US dollar. There is simply a lack of confidence in the Chinese financial system, according to Arvind Subramanian and Josh Felman.
By Ning Wang
